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    NZD/USD Trading Recommendations 17th June 2016


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    NZD/USD dropped perfectly as expected and hit our profit target before bouncing up again. Now we're looking to sell on strength closer to the 0.7100 level for a drop again to 0.6975. The stochastic (21) is reaching resistance once again, where we expect the price to drop off correspondingly.

    0.7110 is a graphical resistance of the first wave i in close and 0.7110 is a 1.0 fibonacci projection of wave iv.

    Trading recommendation:

    Sell at 0.7100

    Stop loss at 0.7150

    Take profit at 0.6975

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